The full name of stock index futures (SPIF) is stock index futures, which can also be called stock index futures and futures index. It refers to the standardized futures contract with the stock price index as the subject matter. The two parties agree to buy and sell the underlying index according to the size of the stock price index determined in advance at a future date, and settle the difference in cash after the expiration. As a type of futures trading, stock index futures trading has basically the same characteristics and processes as ordinary commodity futures trading. Stock index futures are a kind of futures, which can be roughly divided into two categories, commodity futures and financial futures.
Market maker and market watcher are synonymous, which means that in the securities market, an independent securities business legal person with certain strength and credibility acts as a franchise dealer, constantly reporting the buying and selling price of a certain securities to public investors (that is, two-way quotation), and accepting the buying and selling requirements of public investors at this price, and trading securities with investors with its own funds and securities. Buyers and sellers do not need to wait for the counterparty to appear, as long as a market maker comes forward to undertake the counterparty, a transaction can be reached. Market makers maintain market liquidity and meet the investment needs of public investors through this continuous trading. Market makers compensate the cost of providing services through appropriate bid-ask spreads and realize certain profits.